“All of LP’s operating segments were adjusted EBITDA positive in the 3Q. While our OSB prices averaged 7% below the 3Q of last year, we did see a steady rise in Random Lengths pricing, which began in August, and which has continued into this quarter,” said Curt Stevens, CEO.
For the 3Q 2015, LP reported net loss of $27 million, or $0.19 per diluted share, as compared to a net loss of $20 million, or $0.14 per diluted share for the 3Q 2014. Reductions in OSB pricing accounted for an $18 million decrease in both operating results and adjusted EBITDA.
For the nine months ended September 30, 2015, LP reported net sales of $1.4 billion compared to $1.5 billion in the first nine months of 2014.
For the first nine months of 2015, LP reported net loss of $81 million, or $0.57 per diluted share, compared to loss of $33 million, or $0.23 per diluted share, for the same period in 2014.
Adjusted EBITDA from continuing operations for the first nine months of 2015 was $33 million compared to $61 million for 2014.
LP is a leading manufacturer of engineered wood building products.
